GLVAR Reports Rising Home Prices and Tight Supply

LAS VEGAS—According to statistics released today by the Greater Las Vegas Association of REALTORS (GLVAR), Southern Nevada’s housing market started 2013 in much the same way it ended 2012, with rising home prices and a tight housing supply.

                “Local home prices continue to go up, and that’s generally good news for homeowners, sellers and most people who live here,” said 2013 GLVAR President Dave Tina, a longtime local REALTOR who succeeded Kolleen Kelley as GLVAR president on Jan. 1. “At the same time, we only have about a six-week supply of available homes to offer buyers. That’s not enough to meet demand. This lack of inventory continues to be one of our biggest challenges.”